Microsoft to Lay Off 3% of Global Workforce
May 14, 2025: Microsoft has announced plans to reduce its global workforce by approximately 3%, affecting roughly 10,000 employees across multiple departments.
- May 20, 2025 1:03 pm
- California
October 26, 2021: -On Monday, Volvo Cars shrank its initial public offering, pricing it at the bottom of an announced range and valuing the Geely-owned business at just over $18 billion.
Cancellations have hit European, and U.S. IPO markets as inflation and global supply chain crunches have increased stock market volatility. At the same time, many more companies are reported to have pushed back plans rather than risk U-turns.
Volvo Cars, which had said its IPO would be priced within a range of 53 crowns to 68 heights per share, said it was now opting for 53 crowns.
Because of a semiconductor shortage, carmakers have been hurt by production disruptions, with several cutting production targets and shutting factories on concerns it will run well into 2022.
At the current price, Volvo Cars would be valued at just over $18 billion, well below the $23 billion it had expected at the top of the IPO pricing range.
Volvo Cars said it plans to increase around 20 billion Swedish crowns ($2.3 billion), down a fifth from its previous target.
CEO Hakan Samuelsson said he was “totally convinced” this would be enough, while the price should not be seen as unfavorable.
“We have been listening to the market humbly,” he told news agency TT.
Political tension amid Beijing and Stockholm persisted after Sweden banned Huawei from its 5G networks, and Swedish companies like Ericsson have lost business in China.
In 2010, Geely paid Ford $1.8 billion for Volvo Cars, which would not
exercise an over-allotment option; the amended offering would result in a free float of 16% to 17.9%.
Handelsbanken analyst Hampus Engellau said Volvo Cars had been careful to get secure all Swedish institutional investors.
“I would have seen a bigger share of the company listed to get a larger owner base and a liquid share, and now we’ll have a smaller share listed, which is somewhat unfortunate,” he said.
Volvo Cars said the trading on Nasdaq Stockholm was expected on October 29, a day later than previously announced.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
May 14, 2025: Microsoft has announced plans to reduce its global workforce by approximately 3%, affecting roughly 10,000 employees across multiple departments.
May 13, 2025: The Trump administration is considering suspending the constitutional right of habeas corpus in a bid to accelerate mass deportations.
April 29, 2025: Donald Trump’s second term has reached the 100-day mark under sustained public skepticism, with national approval ratings
April 24, 2025: NATO closely monitors a series of Russian naval exercises in the northern waters near Finland and Norway amid heightened military activity
April 23, 2025: The U.S. Supreme Court is preparing to issue a ruling on whether AI-generated political speech is protected under the First Amendment
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.